Business News of Tuesday, 12 May 2020Source: www.ghanaweb.comGhana scores 70 percent on its first oil bid & licensingFile photoGhana has been scored 70 percent on how it handled its maiden licensing bid for six oil blocks it offered to investors. In a latest report by the Civil Society Licensing Round Monitoring group, the seventy percent mark was described as satisfactory. The procedural requirements on competitive bidding scored 70 percent compliance with calendar of events under bidding round was rated 80 percent. The entire process cumulatively scored 70 percent, which is interpreted as satisfactory on the adopted grading scheme. President Nana Addo Dankwa Akufo-Addo, in October 2018, launched the country’s first oil and gas exploration licensing round.

Source: GhanaWeb May 12, 2020 14:15 UTC